Keppel T&T to unveil four logistics facilities by 2015

Logistics revenues seen to grow 30%.

According to CIMB, Keppel T&T plans to open four logistics facilities in FY14-15, three of which are in China and one in Singapore.

Here's more:

These include two cold chain logistics parks in China (Keppel Wanjiang Logistics Park and Sino-Singapore Jilin Food Zone International Logistics Park), a green integrated logistics distribution centre in Tianjin Eco-City and an air logistics hub in Singapore.

These logistics facilities are slated to open between mid-2014 and 2015 and will add an estimated 144,000sm of warehouse space to the existing 229,000sm of space owned by Keppel T&T and its subsidiaries.

While Keppel T&T has yet to release data on the size of its warehouse at the Keppel Wanjiang Logistics Park, we assume thatit will be similar in size to its two other logistics projects in China.

Given the substantial additions in logistics warehouse capacity over FY14-15, we expect logistics revenues to grow 16% yoy in FY14 and a further 30% yoy in FY15 as more facilities are completed and occupancy rates ramp up.

This will contribute 39-45% of our earnings growth forecasts in FY14-15.

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